It is bounded from the South by Greenland, Svalbard archipelago and Taymyr Peninsula. Its maximum depth is over 12,780ft. The continental shelf around the Eurasian Basin is very narrow, averaging 23-58 mi.
It is believed to be of Cenozoic origin: it was created about 63 m.y. ago by the spreading of the sea floor."Plate Tectonics Model for the Evolution of the Arctic", Geology, vol. 2, Issue 8, p.377 (1974)